on Sunday announced that, from now on, the construction of five mining projects with a total investment of $2.025 billion is expected to begin.
"Starting now, the construction of five mining projects is expected to begin: Quellaveco Expansion, Corani, Raura Replacement, Chalcobamba Phase I, and Romina in Apurimac, Ancash, Huanuco, Lima, Cajamarca, and Puno regions, respectively, with a joint investment exceeding $2.025 billion," she detailed.
The Head of state reaffirmed her awareness of the multiplier role of mining investment as a driver of economic growth and wealth generation, as well as a source of inclusion and reduction of social gaps.
"Our Government is committed to a competitive, formalized, modern, and sustainable mining industry, both socially and environmentally," Mrs. Boluarte indicated.
"In the first quarter of this year, four major mining projects were approved: Antamina Reposition, Yumpaq, Huancapeti, and Tantahuatay Replacement, enabling investments worth over $2.47 billion, which will contribute to creating more than 50,000 jobs during the mine construction phase and over 10,000 jobs during the operation phase," she added.
The president mentioned that the informative phase of the Mining Sector's Single Digital Window was implemented last February, integrating 10 public institutions to achieve administrative simplification and reduce procedures. Besides, work is being carried out on the intermediate phase related to regulations so as to expedite the permit acquisition for investors.
"Last June, Supreme Decree No. 011-2024-EM was published, authorizing an expansion of up to 10% of the additional capacity of daily mineral treatment, which will allow for increasing mining production and generating more resources and foreign currency (revenue) for the country," Mrs. Boluarte noted.
"We have completed the draft bill for small-scale mining and artisanal mining, which will be shared with all sector stakeholders to receive input aimed at organizing small-scale mining activities and completing the ongoing comprehensive mining formalization process," she added.
Tia Maria
President Boluarte stressed that Tia Maria Mining Project, located in Arequipa region, is a reality that will create 9,000 jobs during the construction phase and 4,800 permanent jobs, both direct and indirect ones.
"The approximate investment of US$1.4 billion will generate 120,000 metric tons of refined copper per year. The Tia Maria Project will generate resources that will enhance Tambo Valley’s development, providing its population with basic services," Mrs. Boluarte emphasized.
"The Government is convinced of Tia Maria’s benefits: it will boost agriculture, close gaps in education and health, dynamize commerce, enhance fishing, and foster tourism," she added.